"It all came down to the Department of Labor's willfulness versus the full force and fury of the 401(k) industry -- and some its powerful allies -- and guess who won? (Hint: The winners are at a higher pay scale and deal with real investors.) In May, the 401(k) industry was angered after its members believe they were blindsided by an eleventh-hour move by the DOL requesting that some self-directed brokerage accounts receive the same level of monitoring as other investments in 401(k) plans.... Now, it appears that the DOL has come around to the viewpoint of these record keepers and discount brokers. The rule maker for 401(k) plans announced on Monday that it will resume the policy position of allowing plan participants to pick and choose their own investments at their own peril and not require plan sponsors to monitor them in the same way as they would other investments."

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